Nigeria has invited prospective investors to express interest in buying its moribund national maritime carrier, the privatisation agency said on August 17.
The Bureau of Public Enterprises (BPE) said the government is divesting a 100 percent stake in Nigeria Unity Line, which has no vessels but does have a shipping licence that gives it the status of a flag carrier.
Under the Nigerian Cabotage Act, which bars foreign shipping firms from domestic coastal trade, a flag carrier is regarded as an indigenous company and allowed to operate in the top African oil producer's waterways even if it is owned by international investors.
"Prospective investors must provide verifiable evidence of successful investment and technical competence in maritime operations, with proven ability to operate a shipping line for all types of cargo," the agency said in a notice.
The BPE said applicants must also provide proof of ownership and capacity of their ocean-going ships and state their years of experience in both local and international maritime business operations.
The deadline for expressions of interest is September 8, and pre-qualified applicants will have access to a data room containing detailed operating information for a $5,000 non-refundable fee.
The Nigeria Unity Line was incorporated in 1995 following the liquidation of the debt-ridden Nigerian National Shipping Line, to undertake wet and bulk cargo transport, coastal tanker services, freight forwarding and agency services.
Its only vessel was impounded by Sri Lanka in 2002 for failure to pay crew wages and other creditors' expenses, and was later sold on the orders of the Nigerian government.
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